Crude oil tumbles after the Fed hikes

West Texas Intermediate crude oil has come under significant
pressure after the Federal Open Market Committee announced a 25
basis point
hike to the fed funds rate.

Heavy selling has the energy component down about 3.6% near
$51.10 barrel, a four-day low. Earlier in the session, WTI hit a
high of $52.78 after Department
of Energy data showed crude oil inventories fell by 2.6
million barrels last week, greater than the 1.6 million drop that
economists had forecast.